Trump Cabinet picks face tough questions  – Crypto News – Crypto News
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Trump Cabinet picks face tough questions  – Crypto News

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The Senate has wasted no time in starting the confirmation process for President Trump’s Cabinet hopefuls. 

Three of his more controversial nominees faced questions on Capitol Hill yesterday: RFK Jr., Tulsi Gabbard and Kash Patel. They are up for health secretary, director of national intelligence and FBI director, respectively. 

RFK Jr.’s two days of hearings mostly focused on his past comments on vaccinations, highlighting some of his more contentious views that even some Republicans can’t get behind. 

“Your past of undermining confidence in vaccines with unfounded or misleading arguments concerns me,” Sen. Bill Cassidy said Thursday, adding at the end of his questioning that he still needs to consider how he’ll vote. 

Gabbard, former Democratic congresswoman-turned-MAGA-celebrity, faced criticism from both sides. Dems and Reps alike wanted Gabbard to explicitly denounce Edward Snowden as a traitor, which she refused to do. 

Intelligence Committee members also had the opportunity to question Gabbard behind closed doors. The vote to advance her confirmation will also be private, although some Republicans are pushing for a public vote, which, in theory, would pressure the party to support Trump. 

Of the three, Patel seems to have the most outward Republican support — or at the very minimum, the least Republican opposition. Democrats however were concerned with Patel’s past comments on a range of right-wing touchpoints, including his praise of Jan. 6 rioters and support of QAnon influencers. 

“I have no interest, no desire, and will not, if confirmed, go backwards,” Patel said in response to concerns that he’d abuse his position. “There will be no politicization at the FBI. There will be no retributive actions taken by any FBI.”

Howard Lutnick, who’s vying to become commerce secretary, faced senators on Wednesday. The Senate Commerce Committee is set to vote on Lutnick on Feb. 5. 

Notably, Lutnick confirmed his firm Cantor Fitzgerald has a convertible bond with cryptocurrency  company Tether. It was the first time he has publicly acknowledged the financial institution’s ties to the stablecoin issuer. 

Lutnick also said that he would sell “everything,” including his personal assets and business interests, should he be confirmed for the position. 

Several Democrats, including Sens. Maria Cantwell and John Hickenlooper, questioned Lutnick about Tether, bringing up concerns about the stablecoin’s reserves and how it could be used by illicit actors. 

“Tether did no business with anyone that wasn’t KYC appropriate,” Lutnick said, adding that the public nature of the blockchain makes tracking illicit transactions easier. 

With Republicans’ 53-47 majority, the GOP can only afford to lose three votes on any confirmation should all Democrats oppose Trump’s picks. 

Outside of confirmation hearings, senators are also scheduled to address a key pain point for much of the cryptocurrency industry: debanking. The Banking Committee next week will host its first hearing on the topic. On the witness list is Anchorage Digital CEO Nathan McCauley. 

Over in the House, the Financial Services Committee will host a hearing on Feb. 6 on “Operation Choke Point 2.0,” which the industry has taken to calling the alleged targeted attack on crypto companies and their access to banking services. Witnesses have not yet been published. 

Unplug this weekend — there’ll be plenty of political drama to follow next week.

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